Last updated on Jun 27, 2024

How do you create a compelling employee value proposition through your benefit programs?

Employee benefits are more than just perks and rewards. They are a key part of your employee value proposition (EVP), which is the unique combination of benefits, culture, and opportunities that you offer to your employees. A compelling EVP can help you attract, retain, and motivate talent, as well as enhance your employer brand and reputation. But how do you create a compelling EVP through your benefit programs? Here are some tips to help you design and communicate your benefit programs in a way that aligns with your EVP and engages your employees.

1 Understand your employees' needs and preferences

The first step to creating a compelling EVP through your benefit programs is to understand what your employees value and need. You can do this by conducting surveys, focus groups, interviews, or other forms of feedback to gather insights into your employees' demographics, lifestyles, goals, challenges, and expectations. You can also benchmark your benefit programs against your competitors and industry standards to see how you compare and where you can improve. By understanding your employees' needs and preferences, you can tailor your benefit programs to match them and show that you care about their well-being and success.

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Tim Lobanov

Employee Reward and People Programmes expert.
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Imagine entering a cafe that serves only black coffee when you prefer a coconut latte. You'd likely walk right out, wouldn't you? The same principle applies to employee benefits. By understanding your employees' preferences and needs, you can offer benefits that not only satisfy them but make them feel seen, heard, and valued, just like that perfect cup of coffee.

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Chris Berry

Helping employers navigate our wildly complex healthcare system while maximizing value on their investment.
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Give them an option/path to coverage with first-dollar coverage and no-cost share. There's not a person on earth who doesn't want that, and it's absolutely a differentiator from other companies. But what about the cost? The wild thing is that there's so much waste in the system between PBMs, low-performing facilities, and a broken primary care system that often a benefits plan like this costs LESS for the employer and employee than the plan designs used for the past 30 years.

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Sarah Bernard

Co-Founder & COO at Inclusively
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Creating a compelling Employee Value Proposition (EVP) means aligning with today's workforce expectations. Embrace flexibility, accommodation, and inclusion. Challenge myths—accommodations aren't expensive. Respect generational differences in expectations. Prioritize productivity through an inclusive workplace. Adapt to the demands of Millennials and Gen Z. Support personalized work environments, including accommodations for mental health. Promote diversity, especially for those with disabilities. Encourage disclosure and invest in inclusive tools. The workforce is shifting, and inclusivity benefits everyone.

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2 Align your benefit programs with your business strategy and culture

The second step to creating a compelling EVP through your benefit programs is to align them with your business strategy and culture. Your benefit programs should support your business objectives, such as increasing productivity, innovation, diversity, or customer satisfaction. They should also reflect your organizational values, such as trust, collaboration, or social responsibility. By aligning your benefit programs with your business strategy and culture, you can reinforce your mission and vision and create a sense of purpose and belonging among your employees.

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Tim Lobanov

Employee Reward and People Programmes expert.
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If a company were a symphony, the benefits program would be one of its most influential instruments. When it's in harmony with the company's culture and strategy, the music resonates, creating a symphony that employees want to be part of. This harmony showcases your company's mission and values while creating a sense of purpose and belonging for your employees.

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3 Offer a variety of benefit options and flexibility

The third step to creating a compelling EVP through your benefit programs is to offer a variety of benefit options and flexibility. Your employees may have different needs and preferences depending on their life stages, circumstances, and goals. Therefore, you should provide them with a range of benefit options that cover different aspects of their well-being, such as health, financial, emotional, social, and professional. You should also give them the flexibility to choose and customize their benefit plans according to their needs and preferences. By offering a variety of benefit options and flexibility, you can cater to your employees' diverse and changing needs and preferences and show that you respect their individuality and autonomy.

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Jonathan Hendrix, MBA (He/Him)

Experienced Health Plan Executive & Insurance Commissioner Candidate’24
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When considering “variety” weigh the potential for CX pitfalls, too. Offer solutions relevant to your corporate goals and culture, and ensure that your administrative partners can deliver a service experience that is reliable and has binding performance guarantees and procedures for remediation.

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4 Communicate your benefit programs effectively and regularly

The fourth step to creating a compelling EVP through your benefit programs is to communicate them effectively and regularly. Your employees may not be aware of or appreciate the full value of your benefit programs if you do not communicate them clearly and consistently. You should use various channels and formats, such as emails, newsletters, intranet, webinars, or workshops, to inform and educate your employees about your benefit programs. You should also highlight the benefits that are unique or competitive in your industry or market and how they align with your EVP. By communicating your benefit programs effectively and regularly, you can increase your employees' awareness and understanding of your benefit programs and their value.

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Tim Lobanov

Employee Reward and People Programmes expert.
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Think of your benefits program as a treasure chest. Its real value shines when employees know what's inside and how it can enrich their lives. Clear, regular communication, akin to a well-drawn treasure map, can guide employees to appreciate and utilize these benefits effectively, increasing their understanding of the program's value.

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5 Solicit and act on feedback from your employees

The fifth step to creating a compelling EVP through your benefit programs is to solicit and act on feedback from your employees. Your benefit programs should not be static or one-size-fits-all. They should evolve and adapt to your employees' changing needs and preferences and the external environment. You should seek feedback from your employees on a regular basis, such as through surveys, focus groups, or suggestion boxes, to measure their satisfaction and engagement with your benefit programs. You should also analyze the feedback and use it to improve or modify your benefit programs as needed. By soliciting and acting on feedback from your employees, you can show that you value their opinions and input and that you are committed to enhancing their experience and satisfaction with your benefit programs.

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Tim Lobanov

Employee Reward and People Programmes expert.
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Just like a thriving garden, your benefits program needs regular care and attention to flourish. Soliciting and acting on feedback is akin to nurturing this garden, letting it evolve with the changing seasons or, in your case, the shifting needs of your employees. This not only shows that you value their opinion but that you're dedicated to their satisfaction and growth.

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6 Recognize and reward your employees for their contributions

The sixth step to creating a compelling EVP through your benefit programs is to recognize and reward your employees for their contributions. Your benefit programs should not only provide for your employees' well-being, but also motivate and incentivize them to perform well and achieve their goals. You should design and implement recognition and reward programs that align with your business strategy and culture and that acknowledge and celebrate your employees' achievements, efforts, and behaviors. You should also make the recognition and reward programs transparent, fair, and consistent across your organization. By recognizing and rewarding your employees for their contributions, you can boost their morale, loyalty, and retention and show that you appreciate their work and value their impact.

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Tim Lobanov

Employee Reward and People Programmes expert.
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Recognition and reward are like the applause after a spectacular performance; they affirm the value of the effort and talent displayed. They inspire employees to give their best, fostering a sense of loyalty and pride. By implementing transparent and fair reward programs, you are echoing the sentiment, 'we see you, we appreciate you, and we value what you do.'

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Jonathan Hendrix, MBA (He/Him)

Experienced Health Plan Executive & Insurance Commissioner Candidate’24
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Progressive, attractive and intelligent design in benefit offerings can get expensive…in terms of actual costs and hidden costs (waste due to vendor performance issues). Ask your team if your goals are feasible with as simple a solution as possible. For example an HRA can be a creative way to drive behavior and provide choices. An HSA with a qualified HDHP (QHDHP) furnishes participants with more control (and responsibilities) about healthcare decisions. Your employees are consumers, and many value employers who furnish such alternatives.

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How do you create a compelling employee value proposition through your benefit programs?

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1 Understand your employees' needs and preferences

2 Align your benefit programs with your business strategy and culture

3 Offer a variety of benefit options and flexibility

4 Communicate your benefit programs effectively and regularly

5 Solicit and act on feedback from your employees

6 Recognize and reward your employees for their contributions

7 Here’s what else to consider

Employee Benefits Design

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